All Forum Posts by: Erin Legler

Here's a formula I use to break it down. These are at 65% ARV hard money

ARV= $100,000 Loan amount (65% ARV max) = $65,000

Total Due at closing:

Purchase Price = 55,000

Rehab Escrow = 15,000

Appraisal, Inspection, Survey, WDO (POC) = 990

Docs & Taxes, Title, Points, Insurance, etc (8% loan) = 5,200

Total Costs = 76,190

Loan Amount - 65,000

Cash from borrower = 11,190

Loan carrying costs for 3 months = $2,112.50

Profit= $21,697.50

Great!  My cell is (413)335-0717

@Meghan Helbick Wanna meet this Sunday at noon?  

@Andrew Katzman You did a great job!  Townhouse looks amazing!

@Andrew Katzman Mind sharing which construction company you are using?

@Meghan Helbick  Sounds great!  I'll also be picking your brain about Delray Beach.  What is your schedule like?  I can usually do most afternoons after 1pm.

@Meghan Helbick How are you liking Winter Park?  We're practically neighbors, I'm over in Bladwin Park.  Let me know if you ever wanna do lunch and talk about investing or ever need any advice on this area.  I eat over at Prato about 3 times a week.  I'm obsessed with their pizza, and their cocktails are pretty good as well.

@Chad Urbshott Thanks for the heads up!  Yes she's a pretty single blond, so safety is a big concern.

Thank you for the info on the HOA liens. In Orlando, it's the land of tourism so near the craziness of the parks, most of the HOAs are pretty lenient. You can buy a property and rent it out nightly the next day.

@Wayne Brooks Thanks!  My best and I will be visiting West Palm Beach Sept 28 to Oct 1.  She eventually will be moving there in a year, so we're deciding to visit to check out the different areas.  Are there a couple areas you would recommend?  My best friend is in her late 20's and is looking for something near nightlife, but not too close.  She also has dogs and would need an area where there are back yards.

@Mark Severino I'm working with a buyer now that is looking for a quad-plex under 400K. The only thing that I was able to find for him are properties near UCF.  There were others near Apopka and Kissimmee as well.  The buyer wants to live near civilization, downtown Orlando, Winter Park etc so we have switch our search and looking for land to build on.  It's getting tricky with the zoning, tho.